Juan Camilo is a very entrepreneurial person who has had his own vegetable crop since he was 15 years old thanks to his father who taught him this activity from a very young age. With a bit of savings and the support of his father he succeeded in cultivating his own vegetables. Thanks to all the experience he has acquired, his vegetables are well known for their good quality. Even more so, his service is always characterized as being one of the best.
Despite this, he is constantly presented with great difficulties like the winter that deteriorates and occasionally causes him to lose the entire crop. It is because of this that Juan Camilo is asking for a loan to buy fertilizers, seeds and irrigation so that he can overcome the winter damage to his crop and continue to offer good products to his customers. In this way his business will have the opportunity to have a good production despite the constraints that the winter brings. Also he will continue to generate income for his home and continue to provide a good quality of life for his family.
Juan Camilo es una persona muy emprendedora que desde los 15 años tiene un su propio cultivo de verduras gracias a que su padre le enseñó la actividad desde muy temprana edad y con unos ahorros y el apoyo de su padre logró cultivar su propia producción. Gracias a toda la experiencia que ha adquirido, sus verduras son reconocidas por la buena calidad de estas, además de que su servicio siempre se ha caracterizado por ser uno de los mejores. A pesar de esto, constantemente presenta grandes dificultades como son el invierno que deteriora y en ocasiones hace perder completamente la producción, es por esto que Juan Camilo busca un préstamo para comprar abonos, semillas y riegos y así poder superar los daños del invierno en sus cultivos y seguir ofreciendo buenos productos a sus clientes.
De esta manera su negocio tendrá la oportunidad de tener una buena producción a pesar de los condicionantes que le pone el invierno. Además, seguirá generando ingresos para su hogar y seguir brindando una buena calidad de vida en su familia.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.
A loan of $1,100 helped Juan Camilo to buy fertilizers, seeds and irrigation which will help his crops recover from the winter damage and will allow him to continue to offer good products to his customers.